Turmeric yesterday we have seen that market has moved 3.01% on lower stocks in the domestic market. Last year turmeric production was less and there was good demand in spot market. Spot prices in Nizamabad, a key domestic market, ended at 14,595.50 rupees per 100 kg. Market has opened at 14130 & made a low of 14120 versus the day high of 14530. The total volume for the day was at 3530 lots and the open interest was at 6060. Support for turmeric is at 14243 below that could see a test of 13977. Resistance is now seen at 14653 above that could see a resistance of 14797.

Trading Ideas:

Turmeric trading range is 13977-14797.

Turmeric ended higher on lower stocks in the domestic market

Last year turmeric production was less and there was good demand in spot market

Turmeric looks to have resistance at 14620 and support is at 14400.

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In Nizamabad spot prices ended at 14595.50 rupees per 100 kg